Seminole Management Co. Inc. Acquires New Stake in ConocoPhillips (COP)
Seminole Management Co. Inc. acquired a new stake in shares of ConocoPhillips (NYSE:COP) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 34,000 shares of the energy producer’s stock, valued at approximately $1,702,000. ConocoPhillips makes up about 0.4% of Seminole Management Co. Inc.’s investment portfolio, making the stock its 21st largest position.
Several other large investors have also bought and sold shares of COP. Wellington Management Group LLP boosted its position in shares of ConocoPhillips by 255.3% during the 1st quarter. Wellington Management Group LLP now owns 12,803,885 shares of the energy producer’s stock valued at $638,530,000 after purchasing an additional 9,200,014 shares in the last quarter. BlackRock Inc. boosted its position in shares of ConocoPhillips by 7.8% during the 2nd quarter. BlackRock Inc. now owns 85,821,694 shares of the energy producer’s stock valued at $3,772,723,000 after purchasing an additional 6,197,896 shares in the last quarter. FMR LLC boosted its position in shares of ConocoPhillips by 6.9% during the 1st quarter. FMR LLC now owns 61,497,903 shares of the energy producer’s stock valued at $3,066,900,000 after purchasing an additional 3,982,002 shares in the last quarter. AJO LP boosted its position in shares of ConocoPhillips by 3,000.7% during the 2nd quarter. AJO LP now owns 2,988,018 shares of the energy producer’s stock valued at $131,353,000 after purchasing an additional 2,891,652 shares in the last quarter. Finally, Franklin Resources Inc. boosted its position in shares of ConocoPhillips by 21.6% during the 2nd quarter. Franklin Resources Inc. now owns 12,025,415 shares of the energy producer’s stock valued at $528,635,000 after purchasing an additional 2,134,292 shares in the last quarter. Institutional investors own 69.87% of the company’s stock.
Shares of ConocoPhillips (NYSE COP) opened at $52.17 on Friday. The company has a quick ratio of 2.23, a current ratio of 2.38 and a debt-to-equity ratio of 0.64. The stock has a market cap of $62,370.07, a P/E ratio of 2,608.50, a PEG ratio of 12.58 and a beta of 1.26. ConocoPhillips has a 52-week low of $42.26 and a 52-week high of $54.22.
ConocoPhillips (NYSE:COP) last posted its quarterly earnings results on Thursday, October 26th. The energy producer reported $0.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.08 by $0.08. The business had revenue of $7.20 billion during the quarter, compared to analyst estimates of $6.55 billion. ConocoPhillips had a negative net margin of 7.32% and a positive return on equity of 0.12%. During the same period in the prior year, the firm earned ($0.66) earnings per share. research analysts anticipate that ConocoPhillips will post 0.55 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, December 1st. Stockholders of record on Monday, October 16th were given a $0.265 dividend. This represents a $1.06 dividend on an annualized basis and a dividend yield of 2.03%. The ex-dividend date of this dividend was Friday, October 13th. ConocoPhillips’s dividend payout ratio (DPR) is -57.30%.
A number of analysts have commented on COP shares. Royal Bank of Canada reaffirmed a “buy” rating and set a $54.00 price objective on shares of ConocoPhillips in a research note on Friday, September 29th. Scotiabank reaffirmed a “buy” rating and set a $53.00 price objective on shares of ConocoPhillips in a research note on Friday, September 29th. Jefferies Group set a $54.00 price objective on shares of ConocoPhillips and gave the company a “buy” rating in a research note on Tuesday, August 29th. Piper Jaffray Companies set a $45.00 price objective on shares of ConocoPhillips and gave the company a “buy” rating in a research note on Friday, August 25th. Finally, Goldman Sachs Group raised shares of ConocoPhillips from a “neutral” rating to a “buy” rating and set a $60.00 price objective for the company in a research note on Wednesday. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and fifteen have given a buy rating to the company’s stock. ConocoPhillips has an average rating of “Buy” and an average price target of $55.19.
In related news, Director Charles E. Bunch purchased 2,000 shares of ConocoPhillips stock in a transaction dated Monday, December 11th. The stock was acquired at an average cost of $52.06 per share, with a total value of $104,120.00. Following the completion of the transaction, the director now directly owns 3,429 shares of the company’s stock, valued at $178,513.74. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.82% of the stock is owned by corporate insiders.
ConocoPhillips Company Profile
ConocoPhillips is an independent exploration and production company. The Company explores for, produces, transports and markets crude oil, bitumen, natural gas, liquefied natural gas (LNG) and natural gas liquids. The Company operates through five segments: Alaska, Lower 48, Canada, Europe and North Africa, Asia Pacific and Middle East, and Other International.
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